ARCHIVED - Public Notice CRTC 1999-172
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Ottawa, 21 October 1999
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Public Notice CRTC 1999-172
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Dace Broadcasting Corporation
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Kindersley and Rosetown, Saskatchewan - 199910617
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Transfer of control and shares
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1. The Commission announces that it has approved, by Letter of Authority A99-0132 dated 8 October 1999, a change to the effective control of Dace Broadcasting Corporation (Dace Broadcasting), licensee of radio stations CFYM Kindersley and CJYM Rosetown. The transfer of Dace Broadcasting is effected through Golden West Broadcasting Ltd. acquiring all the issued and outstanding shares of Triad Communications Inc., shareholder of 91.52% of the class A common voting shares of Dace Broadcasting.
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2. As a fundamental element of approval of this application, the Commission notes the licensee's commitment to contribute benefits in accordance with the Commercial Radio Policy 1998. Consistent with the requirements of the benefits test outlined inPublic Notice CRTC 1998-41, the Commission requires the purchaser to contribute tangible benefits of 6% of the value of the transaction that is, $81,000, to be allocated over seven years as follows:
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· 3% ($40,500) to the Canadian Music Marketing and Promotion Fund, which is to be created;
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· 2% ($27,000) as a FACTOR contribution; and
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· 1% ($13,500) to local talent development initiatives involving Saskatchewan music initiatives.
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3. The 3% contribution which is to be allocated to the Canadian Music Marketing and Promotion Fund must be directed to the Canadian Association of Broadcasters who will hold all contributions in trust pending the creation of this fund. With respect to the 2% FACTOR contribution, the Commission notes that the purchaser can request that all or part of this contribution be directed to third party initiatives within Saskatchewan.
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This notice is available in alternative format upon request, and may also be viewed at the following Internet site: http://www.crtc.gc.ca
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Secretary General
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- Date modified: